Last night one our traders Senor Social Media fired off a question about the blog I wrote. “Bella I thought you mentioned that CEPH was a long at 54.50 on the trading floor?” It was. The trade I outlined in my blog was an A trade. There were many other trades that I did not discuss in last night’s blog … Read More
Can You Just Play as a Trader?
If POT breaks 112 then I will get long. If RIMM hits 65 I will start a long term short. If MON gets above 70 then I will get long and try and stay long till 74. If AAPL breaks 205 I will whack the bids and play the downside momentum. All of these are example of excellent trading plans … Read More
Ten Interview Tips for Proprietary Trading
Written 11/13/09 It is recruiting season for SMB again. That means some long trips, like the one I am on now, stuck on a train Friday night between Providence and New Haven. I actually got on the early train mistakenly and am in danger of getting booted off the train at New Haven. Seriously, the Amtrak ticket collector (that is … Read More
Find the Best Teacher
Mike wrote a very thoughtful article for SFO Magazine about how to find the best teacher. In the article, Mike discusses the characteristics of a great teacher and why it is important to find someone with these qualities when searching for guidance. You can read the article here. Feel free to leave comments on this blog.
The Week That Was: May 11 – 15, 2009
The market finally showed some weakness this week. After closing near the rally’s highs at 93, the SPY gapped down on Monday morning, never being able to hold the 92 level, then the 90 level later in the week. Although we were pretty weak on Friday, we held above the 88 level which has been a huge inflection point over … Read More
Build from a Base
Those who trade wish to make a lot of money. Traders are not trying to make $200 a day. They want to make much more. And often traders are ambitious. And they have rarely failed at anything they have done before. Perhaps they have been told their whole life that they were special. Most are the smartest person in most … Read More
Plays Not to Be In
Yesterday I got pretty heated at some guys on our desk for being in what I call “a good play in a sucker stock” in the middle of the day. Every day for the past 2 weeks I have noticed that some guys get in plays where the risk appears to be 1 cent and the reward about 5-10 cents, … Read More
How to Get an Edge in the Market Everyday!
There are only a few things as professional traders we have certain control over and one happens to be a critical element in the quest for consistency and success: preparation. As an athlete my entire life and now someone who is obsessed with becoming a scratch golfer, I have experienced a direct correlation between preparation and success. In my opinion, … Read More